Revenue management is key to any business that has relatively fixed capacity, perishable inventory, and time-variable demand. In this course, you'll answer those questions and explore how pricing and distribution strategies can directly affect demand for your service. Hear Roger Perez, an eCornell Master Certificate in Hospitality Management student, share his story and experience with the eCornell certificate program. Businesses that accept reservations must cope with the problem of no-shows: customers who make a reservation but fail to honor it. In this course, you will learn when to use internal or external market data and when to conduct your own primary research. Alex earned his undergraduate degree at Purdue University in Restaurant, Hotel, and Institutional Management and is also a trained chef with a degree in Culinary Arts from The Culinary Institute of America in Hyde Park, New York. Based on the research and expertise of Professor Kate Walsh, PhD, of Cornell University’s School of Hotel Administration, you will learn how to enable a team to take ownership of its own success and shift leadership roles as the team assumes greater responsibility. Maybe you want to increase market share, retain more customers or generally broaden consumer awareness. The certificate programs are personally developed by Cornell faculty with expertise in a wide range of topics, including leadership and management, marketing and technology, human resources, healthcare, hospitality and more. In addition to these ongoing efforts, Dean Walsh is working in collaboration with her colleagues on the Cornell SC Johnson leadership team on growth initiatives to strengthen the school and take advantage of opportunities afforded by the establishment of the college, including the potential to develop programming in New York. As CEO of Marketing Economics, a consulting firm specializing in travel industry pricing, distribution, yield management, and strategic planning, Dr. Carroll works with a variety of clients including global distribution systems, hotel service companies, and travel intermediaries. Through your work on the course project, you will reinforce what you have learned about the refinement and extension of revenue management practices and will develop notes and recommendations for implementing and extending revenue management at the organization where you work. You will examine the components of a successful overbooking strategy: no-show forecasting, no-show rates, arrival uncertainty, pricing policies, and cancellation forecasts. Dr.  Carvell has published numerous articles in academic and professional journals including the Financial Analysts Journal, Journal of Portfolio Management, the Harvard Business Review, and the Cornell Quarterly, and is the co-author of In the Shadows of Wall Street. His work has been featured in the Wall Street Journal, The New York Times, Forbes, Fortune, Institutional Investor, Financial World, and Leaders. This certificate consists of 18 two-week courses – 14 core and 4 elective courses – and provides the essential skills you need to ensure that your organization runs like a well-oiled machine. Roger is … He also earned a B.A. Kimes has served as a consultant to many hospitality enterprises around the world, including Chevy’s Fresh Mex Restaurants, Walt Disney World Resorts, Fairmont Hotels and Resorts, Starwood Asia-Pacific, and Troon Golf. He has recently finished a major project designed to identify the determinants of hotel demand for U.S. hotels and another on economic and capital market antecedents of venture capital commitments. You'll experience the challenges involved in maintaining your brand's promise across a growing array of new media channels. See first-hand how the successful implementation of new media can help you deliver on your firm's "brand promise", enabling you to deal with market uncertainties and guide your organization toward sustained profitability. Strategic Hospitality Management Certification Intended primarily for middle and upper-level managers who wish to strengthen their understanding of and their ability to contribute to the organization’s strategic objectives. Since the beginning of her administration, Dean Walsh has focused on revamping the Hotel School’s alumni outreach; working with the faculty to undertake a comprehensive review of the graduate and undergraduate curriculums; and reengaging with the hospitality industry, most notably through the creation of an industry immersion initiative for faculty. She became director of rooms at The Statler Hotel at Cornell in 1992 and joined The Hotel School faculty in 1995, where she teaches courses in hotel and casino operations. Zollinger Professor of Finance at the College of William and Mary Mason School of Business. in labor studies from the University of Massachusetts, and a Ph.D. in economics from Penn State. Contact us for additional discounts for active duty military, veterans, and their military dependents. eCornell offers specialized certificates in the areas of human resources, leadership and management development, financial management and hospitality management. She has been involved with food since the age of ten, when she started her own chocolate business, “Cheryl’s Chocolates.” Following her interest in food, she attended SHA and graduated in 2000. Finally, you will employ models to calculate displacement costs and contribution margins to determine which customer groups will return the most profit. His research has also been featured widely in the financial press, including articles in the Wall Street Journal, Financial Times, New York Times, Barronâs, Business Week, Bloomberg, Financial Advisor, and Institutional Investor. He has been honored eight times as a Teacher of the Year by students at The Hotel School. What is it you want out of the program? Moving to Cornell 21 years ago, she continued teaching international management and marketing at the Johnson Graduate School of Management and as of January 2008 at the School of Hotel Administration. He is currently working on a project to disaggregate hotel room rates within urban markets and another to determine the risk-return characteristics of hotel room rates in major U.S. markets. Hospitality Management 360 Certificate from Cornell Hotel School, 180 Professional Development Hours (18 CEUs), 24 Professional Development Credits (PDCs) toward SHRM-CP and SHRM-SCP recertification, 24 credit hours toward HRCI recertification, 25.25 Professional Development Units (PDUs) toward PMI recertification, Hospitality managers working in hotels and corporate offices, Hospitality professionals aspiring to management positions. To increase your chances of success, you need a proven system of data-driven tools focused on profits, not just costs. This new online certificate program is the first of its kind by the ILR School offering nine graduate credits towards a Cornell Master of Industrial and Labor Relations or Master of Professional Studies from ILR. In this certificate program you will develop the skill set necessary to perform all key aspects of data science efficiently. Teamwork is essential. From 2005 to 2006, she served as interim dean of the school, and from 2001 to 2005, she served as the school’s Richard and Monene P. Bradley Director of Graduate Studies. The ratio analysis tools you learn will help your organization to design and implement initiatives for increased productivity and profitability. She was given the Vanguard Award for Lifetime Achievement in Revenue Management by the Hotel Sales and Marketing Association International in 2017. While at Cornell, Stanley discovered her passion for beverages through the courses “Introduction to Wines,” “Food and Wine Pairing,” and “Beverage Management.” Upon graduation, she continued this enthusiasm for beverages and food service in both hotel and restaurant operations on the West Coast, where she worked for the Four Seasons Hotel, Newport Beach, and the Wine Cask in Santa Barbara. I can only answer this question with another set of question and my life experience. He is a recognized expert on the leisure cruise industry. eCornell and Cornell’s ILR School are pleased to announce the launch of the Graduate Certificate in Human Resources Management. Explore this content through a mix of input from hospitality industry experts, hands-on practical activities, and the presentation of sound principles by Cornell faculty. COPYRIGHT © 2000-document.write( new Date().getFullYear() ); ECORNELL, ONLINE LEARNING SUBSIDIARY OF CORNELL UNIVERSITY /SITEMAP /PRIVACY POLICY. It offers over 40 MBA-quality professional development corporate programs, certificate programs, and WebSeries to provide you with the most in-demand skills nowadays. Sheryl E. Kimes, professor at Cornell University's School of Hotel Administration, will provide you with the knowledge you need to help run a successful organization. This course is structured around the four key stages in the guest experience -- pre-arrival, arrival, occupancy, and departure -- and will explain hotel operations, the systems that hotels rely on, and the managers and staff who run them. Hospitality Management Certification The courses in this Certification are designed for individuals who wish to develop a solid foundation of management concepts and skills. With the ideal buyer in mind, you can better target them with high-impact messaging that communicates a compelling brand promise and a clear reason to buy. Then you can analyze the six stages of meal duration to determine where you can reduce time while maintaining a pleasant dining experience for your customers. Participants gain essential management skills in the areas of human resource management, marketing, leadership, financial analysis, and foodservice management. The courses cover the application of core analytics concepts in the R programming environment to allow a scalable implementation. You'll then take what you have learned and apply it to your existing marketing efforts based on industry best practices and time-tested frameworks for profitable marketing. The program was very challenging and I've been in the hospitality industry for over 20 years. Understanding Financial Statements Course, Services Marketing Planning and Management Course, Introduction to Hotel Revenue Management Course, Leading Strategic Change Initiatives Course, Fundamentals of Hospitality Strategy Course, Using Ratio Analysis to Evaluate Financial Performance Course, Evaluating Business and Customer Factors Affecting Marketing Decisions for Services Course, Forecasting and Availability Controls in Hotel Revenue Management Course, Marketing the Hospitality Brand Through Digital Media Course, Utilizing Income Statements and Operational Data Course, Introduction to Restaurant Revenue Management Course, Managing Meal Duration and Reservations Course, Implementing Brand Strategy Through Digital Media Course*, Pricing Strategy and Distribution Channels in Hotel Revenue Management Course*, Overbooking Practices in Hotel Revenue Management Course*, Non-Traditional Applications of Hotel Revenue Management Course*, Building a Resilient Services Marketing Information System Course*, Developing a Service Strategy and Managing the Brand Course*, Managing Service Demand through Pricing and Distribution Strategies Course*, Developing an Integrated Marketing Communications Strategy for Services Course*, Optimizing Your Food and Beverage Menu Course*, Managing Your Food and Beverage Supply Chain Course*, Optimizing Restaurant Space and Pricing Course*, Financial Analysis of Hotel Investments Course, Developing an Asset Management Strategy Course, Achieving Hotel Asset Management Objectives Course, Valuing Hotel Investments Through Effective Forecasting Course, Valuing Hotel Intellectual Property and Structuring the Capital Stack Course, Pricing Strategy and Distribution Channels in Hotel Revenue Management Course, Overbooking Practices in Hotel Revenue Management Course, Non-Traditional Applications of Hotel Revenue Management Course, Optimizing Restaurant Space and Pricing Course, Building Demand During Slow Periods Course, Price Sensitivity and Pricing Decisions Course, Segmentation and Price Optimization Course, Displacement and Negotiated Pricing Course, Search Engines and Online Selling: Stimulating Incremental Demand Course, Implementing Brand Strategy Through Digital Media Course, Mastering the Time Value of Money Course*, Making Capital Investment Decisions Course*, Risk and Return: How to Identify, Measure, and Incorporate Into Capital Budgeting Decisions Course*, Raising Capital: The Process, the Players, and Strategic Considerations Course*, Services Marketing Planning and Management Course*, Evaluating Business and Customer Factors Affecting Marketing Decisions for Services Course*, Introduction to Restaurant Revenue Management Course*, Managing Meal Duration and Reservations Course*, Building Demand During Slow Periods Course*, Success Metrics for Hospitality Digital Marketing Course, Search Engines and Online Selling: Stimulating Incremental Demand Course*, Building a Resilient Services Marketing Information System Course, Developing a Service Strategy and Managing the Brand Course, Managing Service Demand through Pricing and Distribution Strategies Course, Developing an Integrated Marketing Communications Strategy for Services Course, Optimizing Your Food and Beverage Menu Course, Managing Your Food and Beverage Supply Chain Course, Leading Your Team to Optimize Results Course, Operating a Profitable and Responsible Beverage Program Course*, Interpreting the Behavior of Others Course*, Fostering a Culture of Service Excellence Course, Developing Service Excellence Competencies Course, Delivering an Excellent Customer Experience for Your Organization Course, Developing a Culture of Empowerment Course, Grape Varietals of California, the Pacific Northwest, and New York Course, Experiencing Wines of California, the Pacific Northwest, and New York Course, Discrimination Law in the Hospitality Industry Course, Specific Discrimination Laws in Hospitality Course, Advanced Hospitality Leadership Capstone Course, Advanced Hospitality Management Capstone Course, Advanced Hospitality Strategic Marketing and Brand Innovation Capstone Course, Advanced Hospitality Strategy Capstone Course, Advanced Hotel Real Estate and Asset Management Capstone Course, Advanced Hotel Revenue Management Capstone Course, Global Hospitality Trends and Best Practices: Profit From Change Course*, Competitive Pricing and Revenue Management in a Low-Demand Environment Course*, Hospitality Marketing in Uncertain Times Course*, Global Trends and the Implications for HR in Hospitality Course*, By sharing my information I accept the terms and conditions described in, Hotel Real Estate Investments and Asset Management, Advanced Certificate in Hospitality Leadership, Advanced Hospitality Revenue Management: Pricing and Demand Strategies, Wines of California, the Pacific Northwest, and New York, Advanced Hospitality Strategic Marketing and Brand Innovation, Advanced Hotel Real Estate and Asset Management. 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